QPR's wage bill doubles - and that's even before the last two transfer windows are included in financial figures

The state of QPR's finances has been put under the microscope once again after
the club's latest accounts showed their wage bill had doubled to £56million
even before their spending in the last two transfer windows.

In the money: QPR's promotion to the Premier League and efforts to stay there have seen costs at the club continue to risePhoto: PA

QPR chairman Tony Fernandes admitted in his directors' report that the board are ''conscious of the need for expenditure to be closely monitored and controlled'' but also the need to invest in the playing squad.

''A critical driver of any club's value is its presence in the Premier League and the club achieved its key objective for the 2011-12 season, by successfully securing its Premier League status for the coming season,'' he said.

''The financial results reflect the club's focus on on-pitch success.

''There are a number of potential risks and uncertainties that could have a material impact on the group's long-term performance. These risks and uncertainties are monitored by the board on a regular basis.''

Fernandes, Kamarudin Bin Meranun and Ruben Emir Gnanalingam own 66 per cent of QPR, while the other 33 per cent belongs to the Mittal family. Lakshmi Mittal is listed as the 41st richest person in the world by Forbes magazine, with a net worth of 16.5billion US dollars (£11billion).